The five-step process that helped me build a six-figure business in my 20s.

“The best in the world who make money online do it with a foundation of content.

I don’t know anybody who’s succeeded online without video, audio, writing, or images.”

— Tim Denning

We live in a permissionless creator economy.

There has never been a better time in human history to start a one-person business. With low-cost digital tools and platforms that automate creation and distribution, creative solopreneurship is a viable career journey.

Our parents would have killed to have the digital leverage available to us today.

There are few gatekeepers and even fewer barriers to entry.

The entry ticket is a laptop, wifi and half a brain.

If there are no barriers, what about competition?

Well, you can escape competition through authenticity.

As Peter Thiel says, “competition is for losers.”

The means of starting a business are abundant, it is the desire to do so that is scarce.

My solopreneur hero Justin Welsh said it best:

Step #1: Think Big

Build a business around your interests.

The trick is figuring out what you’re interested in. I’ve created a consulting business based on my interest in policy and social entrepreneurship.

I am building another digital business dedicated to repurposing my Medium articles and love of books through Instagram.

The real goal is to combine your interest with a platform that works with your content.

Why are passion and interest important?

When you hit the ‘dip’ you’ll feel like quitting.

Your passion for a topic will carry you forward when you hit those tough times. Trust me, they happen to everyone.

Here are some reflection questions to ask yourself:

• What could you happily talk about for hours?

• What work would you do for free?

• What piece of advice do most people come to you for?

The answers to these questions will provide a useful guide to start taking action. And the best action is through experimentation.

Step #2: The Best Experiment

The best way to test a business is to create content about it.

Content creation has a limited downside but an unbounded upside.

You can’t receive less than zero views on your content, but it only takes one piece of content to go viral. I’ve seen people build entire businesses off a few viral pieces of content.

During your experimentation phase, forget about making money. Your only focus should be on gathering data and insights.

Experiments are optimized for learning, not making money.

During the pandemic, I started to regularly post on LinkedIn about areas of interest that intersected with my own personal story.

After constant experimentation, I’ve found a niche that I was uniquely suited to build a business around.

I focussed my content on what was resonating with my audience and slowly attracted freelance clients.

After a while, I realized I could make more money with less stress by working for myself. This year, I took the plunge and quit to start my own consulting business.

Less than 6 months later, I’ve already crossed six-figure revenue and I am on my way to hitting multiple six-figures in 2023.

Experiment early and often.

Step #3: Iterate Constantly

Every piece of content you create is a signal.

You should be able to gather data and insights from what worked and what didn’t. I’ve had so many pieces of content that flop. I barely receive any engagement or views.

Embarrassed by what you put out there? Good.

As Reid Hoffman once said,

“If you aren’t embarrassed by your first product, you’ve probably launched too late.”

Even though I’ve already got a six-figure business, I am constantly iterating on my content.

It’s never-ending.

I’ve hired a designer to take my content to the next level and I am constantly tweaking and optimizing my profile for growth.

I take online courses and read books on copywriting to stay ahead of the game.

As Naval Ravikant says, “you want 10,000 iterations, not 10,000 hours.”

Step #4: Scale Rapidly Through Leverage and Systems

Once you find what works, double down on it.

You’ll know what works through engagement and views. This might change over time but generally, your vision will stay the same.

Scale means using leverage. You can obtain leverage through people working for you, adding more capital or using code and media to get your content further.

A mixture of all three is the perfect mix.

As I said, I’ve hired a freelance designer to help make my design sharp. I’ve got ideas but not necessarily the best design skills.

I add more value to my business by creating ideas rather than designing them. I’ve used self-publishing tools to automate my distribution and will slowly add more people to make my content creation machine.

If I could leave you with one piece of advice:

Create a system for content creation.

I’ve recently started to implement what Justin Welsh calls the ‘hub-and-spoke’ model of content creation.

Put simply, you create one long-form piece of content per week and write it in such a way that it can easily be broken down into shorter pieces of content and repurposed onto other platforms.

My long-form piece of content will be a weekly newsletter that I’ll be launching in October this year for my niche consulting area.

With this content creation system, you’ll never run out of content ideas and you dramatically reduce the amount of stress you feel.

Step #5: Have fun

Creating a business through content creation is really enjoyable.

You get to build something from scratch and watch it grow.

There’s nothing more satisfying than seeing something that started off as an idea in your mind turn into a real-life product that provides value for people.

Stress, overwhelm and occasional signs of burnout come with the territory but they can also happen when you work for someone else.

At least you get to be stressed while working on building your own future.

When you feel overwhelmed, give yourself time and space to realize how incredible it is that you’re making any money off your interests.

In summary:

• Think Big by reflecting on your interests and goals

• Start Small by experimenting and testing

• Iterate Constantly by learning what works and what doesn’t

• Scale Rapidly by adding leverage to your content

• Have Fun by documenting the process and expressing gratitude

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